Sabah Al-Ahmad Al-Jaber Al-Sabah was awarded a certificate of merit for the work he has done for international economic and social development.
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According to the institution, global economic growth will reduce from the 3% of last year to 2.9% this year. Brazil may grow 2.2% if reforms are passed.
The institution announced a new loan program. The primary focus will be on promoting small businesses, which account for most of the jobs in the country.
The World Bank released a report this Wednesday. Brazil went from 125th to the 109th position. The UAE is among the top 20 countries for the first time.
The credit line will finance reforms for private investments promotion, small businesses, social program and alternative energy.
Annual meetings are held in the USA two years back-to-back and then in a different country every third year. Indonesia will be the host in October 2018.